RBC Capital raised the firm’s price target on BioCryst (BCRX) to $15 from $14 and keeps an Outperform rating on the shares. Following the announced transaction to acquire Astria Therapeutics (ATXS), their conference call discussing terms, and the firm’s discussion with BioCryst’s management team, RBC has further conviction that despite the near-term dilution tradeoff, this is a very sound deal that should leverage BioCryst’s core competencies well, and set up their franchise even better. The firm added that Tuesday’s weakness in BioCryst shares presents a compelling buying opportunity.
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Read More on BCRX:
- BioCryst’s Strategic Acquisition of ATXS: A Catalyst for Long-Term Growth and Profitability
- BioCryst’s Strategic Acquisition of Astria Therapeutics Boosts Market Position and Financial Outlook
- BioCryst price target raised to $15 from $14 at Jefferies
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